CNX Resources (NYSE:CNX) Now Covered by TD Cowen

TD Cowen started coverage on shares of CNX Resources (NYSE:CNX - Free Report) in a research report released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a hold rating and a $27.00 price target on the oil and gas producer's stock.

A number of other analysts have also recently weighed in on the stock. Mizuho cut their price objective on shares of CNX Resources from $38.00 to $34.00 and set an "underperform" rating on the stock in a report on Tuesday. BMO Capital Markets lifted their price target on shares of CNX Resources from $26.00 to $29.00 and gave the stock a "market perform" rating in a research note on Friday, October 4th. Bank of America initiated coverage on shares of CNX Resources in a research note on Monday, October 28th. They issued an "underperform" rating and a $34.00 price objective for the company. Piper Sandler lifted their target price on CNX Resources from $20.00 to $23.00 and gave the stock an "underweight" rating in a research report on Friday, December 6th. Finally, Capital One Financial downgraded CNX Resources from an "overweight" rating to an "equal weight" rating and set a $25.00 target price for the company. in a report on Monday, October 14th. Nine analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat, CNX Resources presently has a consensus rating of "Reduce" and an average target price of $29.75.

CNX Resources Stock Up 1.8 %

Shares of CNX stock traded up $0.54 on Wednesday, reaching $30.88. 3,251,863 shares of the stock were exchanged, compared to its average volume of 1,701,842. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 1.82 and a beta of 1.43. The business's 50 day moving average price is $36.96 and its 200 day moving average price is $31.91. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. CNX Resources has a twelve month low of $19.07 and a twelve month high of $41.93.

CNX Resources (NYSE:CNX - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The business had revenue of $424.21 million during the quarter, compared to analysts' expectations of $398.33 million. During the same period in the prior year, the firm posted $0.35 EPS. As a group, sell-side analysts expect that CNX Resources will post 1.54 earnings per share for the current fiscal year.

Insider Buying and Selling at CNX Resources

In related news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the sale, the insider now directly owns 13,925,000 shares of the company's stock, valued at $432,928,250. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On CNX Resources

A number of large investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its holdings in shares of CNX Resources by 3.5% in the third quarter. Sequoia Financial Advisors LLC now owns 13,135 shares of the oil and gas producer's stock valued at $428,000 after acquiring an additional 442 shares in the last quarter. CWM LLC lifted its position in CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer's stock valued at $70,000 after purchasing an additional 935 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in CNX Resources by 3.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,307 shares of the oil and gas producer's stock valued at $712,000 after purchasing an additional 941 shares in the last quarter. Blue Trust Inc. increased its position in CNX Resources by 135.4% during the 3rd quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer's stock worth $64,000 after purchasing an additional 1,131 shares during the period. Finally, GAMMA Investing LLC increased its position in CNX Resources by 62.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,073 shares of the oil and gas producer's stock worth $100,000 after purchasing an additional 1,177 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

About CNX Resources

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.